Bob Eccles, Visiting Professor at the Saïd Business School, University of Oxford, and author of several books on integrated reporting, sustainability and the role of business in society, has today [8 October 2020] published an article on the significant progress the IIRC, and fellow global standard setters, have made for comprehensive corporate reporting.
The article praises the collaboration between the five: the IIRC, CDP, the Climate Disclosure Standards Board (CDSB), the Global Reporting Initiative (GRI), and the Sustainability Accounting Standards Board (SASB), in creating a global set of reporting standards, as well as the IIRC’s role in providing a framework for how to connect and report on financial and other capitals.
Eccles’ article includes insights from key players within the five organizations, of which our CEO Charles Tilley is one, discussing their motivations for working together and overcoming challenges around defining materiality.
Eccles reiterates that now is a crunch time for real change to take place, given political uncertainty and the climate crisis, with the statement credited for being a building block for a global solution.
The article was published in light of an open letter written by the five organizations to Erik Thedéen, Chair of IOSCO’s Sustainable Taskforce, requesting sustainability standards for capital markets. Also, the report of the World Economic Forum and Big Four calling for global ESG reporting standards for companies and markets and the joint statement published by the five organizations on 11 September.